Vehicle Description

No matter how impressive a specific collector car is, there's no
such thing as a perfect investment. The very nature of acquiring
gains via equity is inherently risky depending on the factors and
history affecting an asset. With that in mind, the idea is to find
a classic which minimizes risk as much as possible. From an
investment mindset, low risk is the major selling point of this 1
of 1 1964.5 Mustang. Never mind the fact that the car was assembled
during the first hour of Mustang production. The fact that the car
was 1 of 3 convertibles sent to Holman Moody for major
modifications and subsequent pace car duty is beside the point.
Just because the car was the only Ford Mustang to pace the 1964
Indianapolis 500 and, in the process, became the most modeled Ford
in history doesn't mean all risk is moot. And, just because the car
is a fanatically documented piece of automobilia that was driven by
Ford Motor Company heir Benson Ford doesn't make it a risk-less
investment. No, what matters most is that the combination of these
monumental milestones provides potential buyers with one of the
safest and most secure automotive assets on the planet. If you're
shopping for a sure-fire winner, this, "the most significant
historic Mustang in the world", should be the FIRST classic you're
willing to put money on!

HISTORY/APPEARANCE

"The most significant historic Mustang in the world" is a tall
claim but, once you hear this convertible's incredible story,
you'll whole-heartedly agree. In 1964, Lee Iacocca was preparing a
massive marketing blitz for Ford's newly revealed pony car. Since
the company's Falcon compact had already secured pace car duties
for the 1964 Indy 500, Iacocca made his newest muse a last minute
substitution. During the first hour of Mustang production, three
convertibles were assembled with a combination of Falcon and
1963-coded Ford parts. And, as soon as those cars rolled off the
Dearborn assembly line, they were shipped to legendary Charlotte
tuner Holman Moody. In order to pace 'the great race' the cars
needed to safely travel 140 miles per hour. So, the first thing
Holman Moody did was, with Ford's blessing, replace the cars' stock
260 powerplants with detuned 289s that were being developed for the
GT40 Le Mans racer. Next came a lowered and stiffened suspension.
And finally, chrome marine handles were, along with custom flag
stanchions, added for both form and function.

Unfortunately, Iacocca's grand but hasty plan encountered one major
problem: Holman Moody only had time to complete two of the cars.
When this Mustang and its counterpart were shipped to Indy, Mustang
number three, being essentially a prototype, was scrapped. And when
the two completed cars arrived at the brickyard, one immediately
experienced mechanical failure. That meant the convertible you see
here is the sole Mustang to, at the hands of Benson Ford, pace the
1964 Indianapolis 500. After a big day of speed and photo ops, the
drop-top was unceremoniously returned to Ford. Ford, ever the
supporter of motorsports, passed it to Florida's Sebring
International Raceway. Sebring made good use of the Mustang as a
parade car and driver loaner for a solid 11 seasons. Then, in 1974,
this significant piece of Dearborn history was locked in a raceway
storage facility and all but forgotten.

Fast forward to the early 90s when a Mustang Club of America
official learned that a true gem of Mustang history had been stored
roughly 120 miles from his house for almost 20 years. After talks
with the owner of the track, he became the first, and only, private
owner of the car. And, circa 1991, he began a fully documented, NOS
restoration that would eventually earn the convertible a perfect
score in MCA's exclusive Thoroughbred Class. As far as labor was
concerned, the restoration wasn't too difficult, as the car was
incredibly solid when purchased. In fact, 95% of its parts, some of
them one-of-a-kind originals, were reconditioned and bolted right
back up using original and NOS hardware. And the 5% that couldn't
be reused was carefully replaced with either NOS or completely
custom components. In the final phase of the project, the car's
all-original body and frame were walnut-blasted to remove long-dead
pigment. And correct, single-stage Ford Fleet White was laid under
a metallic blue stripe, Indy tags and authentic pace car
decals.

It should be pretty obvious by now that this classic is all about
sweating the details. And, sporting a look that's 100% true to how
it rolled around the brickyard, the car presents a finished, high
quality appearance which goes far beyond nice paint. At the front
its solid body, a bulls eye grille hangs a rechromed horse emblem
between NOS headlights, rechromed parking lamps and an original,
rechromed bumper. At the top of that grille, original '63 and
'64-coded glass rides between original wipers, rechromed trim and a
never-folded, NOS canvas roof. At the sides of that glass,
traditionally sculpted sheetmetal lays the groundwork for stainless
cove trim, patriotic Mustang emblems and old school door handles.
And at the back of that sheetmetal, peaked fenders and a second
rechromed bumper frame rechromed tail lights, a highly detailed
fuel filler and custom-reproduced stanchions.

ENGINE

Developed for the GT40 campaign, labeled "experimental" and, as far
as anyone knows, the only factory-installed Mustang mill of its
kind, this convertible's 450 horsepower V8 is a literal fairy-tale
of Ford performance. At the top of the balanced, blueprinted and
fully de-burred block, a gold, correctly decaled air cleaner feeds
wind in to a correct Autolite 4-barrel that's clamped onto fresh
steel fluid lines. At the base of that carburetor, a cast iron Ford
intake rides between ported and polished Hi-Po heads, which are
capped with bright gold valve covers. Below those heads, forged
pistons and a drop forged crank combine with solid lifters and a C3
cam to create stout 10.5 to 1 compression. At the front of that
cam, a reliable points distributor sequences fire through NOS,
date-correct plug wires, which snake around correct Fairlane
exhaust manifolds. And at the leading edge of those manifolds, NOS
V-belts spin correct ancillaries behind a correct Galaxie radiator.
Aesthetically, the jet black small block sits in a completely
restored engine bay which features factory decals and smooth, Satin
Black paint. And nice pieces like NOS plugs, an actual 'tar top'
battery and tri-angulated, Holman Moody-installed bracing provide
unmatched authenticity.

DRIVETRAIN/SUSPENSION

That engine would certainly achieve the speeds required to pace
Indy, but could the car's factory chassis efficiently apply all its
power to the ground? The pros at Holman Moody seemed to think so,
as long as they made a few small mods. Trot this Mustang to a lift
and you'll find original, correctly oversprayed floors that are
highlighted by factory decals, correct paint marks and a sprinkling
of performance hardware. Behind the hot 289, an "experimental"
Toploader 4-speed, which wears a familiar C3 bellhousing, turns a
narrowed '59 Galaxie limited-slip around 3.25 gears. At the ends of
the car, a fully restored suspension employs a larger sway bar,
shortened coils, de-arched leafs and original, mismatched Koni
shocks. At the corners of the car, heavy duty, Holman Moody-tweaked
drums provide firm, fade-free stops. Stomp the 'go pedal' and the
aforementioned manifolds hurl spent gases in to an NOS,
resonator-free exhaust system that screams through a date-coded
cross-flow muffler. Power meets the pavement thanks to painted
steel wheels, which spin NOS 7.75-14 Fires...for more information
please contact the seller.

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